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August 03, 2006
Fast Looking To Acquire Search Startups
Norway's Fast Search & Transfer, which is on a quick growth path now with 60 percent sales increase and 1H06 sales of $71.3M, says in latest earnings report that it is still open to making more acquisitions after two smaller one in the April and May.
It is looking to buy in the "emerging search enabled markets", such as info management, risk management, surveillance and enterprise eCommerce. It also is looking for companies that are developing key technologies that Fast wants such as predictive analytics, "hyper-personalization and contextual synergy".
It recently acquired Norwegian IT consulting firm bWise, which had expertise in one of Fast's flagship products, and Corporate Radar, a web-based portal engine for business intelligence updating. FAST paid $8 million for Corporate Radar and has agreed to pay a performance based earn-out of up to a maximum of $4 million over a one year period.
Posted on August 3, 2006 05:41 PM | Posted to Specialized Software | Permalink
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